With a revolving credit always money in hand

Do you ever have the problem that you are faced with an unexpected release and do not know how to solve this quickly? With a revolving credit you always have money in hand for making unexpected expenses. The loan is therefore less suitable for making a planned major expense.

But just when the need is there and something needs to be replaced or repaired quickly, a revolving credit can offer a solution. You will then already have the amount you have requested available, but will only pay interest when you transfer an amount to your private account.

With a revolving credit always money in hand

With a revolving credit always money in hand

Of course that depends on your income and to a lesser extent on your needs. But anyone who earns around an average salary can apply for a revolving credit of 10,000 euros without too many problems.

Of course you are not allowed to register with the bkr and you are also looking at payment arrears and other outstanding loans. The amount of 10,000 euros is popular and much in demand because it is not too high an amount, but you can manage it as well as have a repair done on your car, replace your television, or replace a new one. I buy a washing machine.

Benefits of revolving credit

Benefits of revolving credit

As mentioned above, you will only pay interest when you start withdrawing money from your specially created account to transfer this to your private account, before that time you do not pay interest. Another advantage may be that amounts already repaid can be withdrawn.

So you have a DK of 10,000 and you have already admitted 7,000, but this was already a year ago and you have met the deadlines of 250 euros per month. But then again, an expensive repair of your car is waiting for you and you need 5,000 euros. This is therefore not a problem because you have already repaid 3,000 euros in that year and can therefore have 6,000 euros.

Other characteristics

Of course there are other facets to the revolving credit that you need to know. For example, the interest you pay is flexible and can vary per month, often this is in the margin and you do not notice much of it.

However, if the interest rate continues to rise for a longer period of time, you can start to notice this in your wallet because your monthly repayment then goes up. Of course it works the other way too, if the interest rate falls for a longer period then you start paying less per month. It can therefore be an advantage, but also a disadvantage.

How do I request this?

How do I request this?

The application simply goes online and is quick and easy with completing a simple form. The first step is to determine whether you are eligible for the requested amount, while checking a number of details:

1. You have enough income to be able to repay
2. You do not have a bkr registration
3. Do you have any other outstanding loans?
4. Have you repaid nicely in the past?
5. Do you partner or participate in this alone
6. Do you live in a rental house or in a purchase house
7. Do you have a permanent employment contract

If the lender finds that you cannot handle the loan on your own, your partner may also be required to sign with it. In this way, there is more security and the loan can be provided faster.

How long does all this take?

If you quickly deliver all the papers that are requested, the entire process can be completed in two working days. Once approved, the loan is immediately made available to you on a separate account from which you can transfer money to your own account.

But which papers then

It differs a little per lender, but at least count on the following:

1. Copy of identification
2. Copy of bank statement (preferably with salary payment)
3. Proof of your employer
4. Information about your living situation

Scan these papers in advance on your computer, or take good pictures with your mobile phone, then you can immediately send them by email when requested. If you do this quickly, you will also have faster access to the revolving credit.

With a revolving credit always money in hand

With a revolving credit always money in hand

It is possible that your application is approved but you still have doubts about whether you can actually take out the loan. It is useful to orientate yourself before you make such a big decision. Take a look at the Good Finance website. Useful tips and calculation tools that can help you on your way. Because borrowing money always costs money.

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